Six Flags’ Saudi Theme Park, With World’s Tallest And Fastest Roller Coaster, To Open On Dec. 31

Six Flags Qiddiya will be the company’s first overseas property.

• Six Flags shares rose 1.6% in the premarket session, following the weekend announcement of the Saudi Theme park opening later this year.
• Six Flags Qiddiya will be the company’s first overseas property.
• Stocktwits sentiment for FUN was ‘bullish.’

Six Flags Entertainment Corp.’s shares gained 1.6% in early premarket on Monday, after an announcement regarding the opening of its first overseas property later this year.

Six Flags Qiddiya in Saudi Arabia will open on December 31, state-run Saudi Press Agency reported on Saturday, according to Bloomberg. The theme park, the first of its kind in Saudi Arabia, is located on the outskirts of Riyadh at Qiddiya City and is part of a series of giga projects in Saudi Crown Prince Mohammed bin Salman’s Vision 2030 portfolio.

It will feature more than two dozen rides, including the world’s tallest and fastest roller coaster, called Falcons Flight.

Qiddiya City is an upcoming entertainment and sports hub, which, when fully built, will span an area more than three times the size of Paris. The region is being developed by Qiddiya Investment Co., backed by Saudi Arabia’s Public Investment Fund, for an estimated $32 billion.

The development comes at a challenging time for Six Flags. The company has recently cut its earnings outlook for the second time this year, as it struggles with admissions revenue and faces investor calls to restructure. 

Meanwhile, FUN stock is down nearly 70% year-to-date, putting it on course for its worst year in history. On Stocktwits, the retail sentiment for FUN remained ‘bullish’ as of early Monday, unchanged over the weekend. 

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